Credit Corp Group (Credit Corp) announces the acquisition of the Cashfirst branded consumer loan book and associated assets from Thorn Group Limited (ASX:TGA) for a total consideration of $13.3m.
The consideration is attributable to the loan book of almost 5,000 current Cashfirst customers. The loan book is expected to deliver the company’s hurdle investment return. Credit Corp is also acquiring other assets including the historical customer database and all the Cashfirst branding and intellectual property.
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